Saba Capital Management L.P. Acquires 422,294 Shares of Weibo Corporation $WB

Saba Capital Management L.P. grew its holdings in Weibo Corporation (NASDAQ:WB) by 21.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,437,357 shares of the information services provider’s stock after acquiring an additional 422,294 shares during the period. Weibo comprises about 0.6% of Saba Capital Management L.P.’s investment portfolio, making the stock its 27th biggest position. Saba Capital Management L.P.’s holdings in Weibo were worth $21,327,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. grew its position in shares of Weibo by 39.6% during the first quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock worth $5,115,000 after purchasing an additional 165,936 shares in the last quarter. AIA Group Ltd raised its stake in Weibo by 229.7% during the 1st quarter. AIA Group Ltd now owns 103,579 shares of the information services provider’s stock valued at $906,000 after purchasing an additional 72,159 shares during the period. DGS Capital Management LLC lifted its holdings in Weibo by 19.7% in the 1st quarter. DGS Capital Management LLC now owns 127,750 shares of the information services provider’s stock worth $1,118,000 after purchasing an additional 20,982 shares in the last quarter. XTX Topco Ltd purchased a new position in Weibo in the 4th quarter worth approximately $517,000. Finally, Voloridge Investment Management LLC boosted its stake in Weibo by 51.1% in the 4th quarter. Voloridge Investment Management LLC now owns 481,187 shares of the information services provider’s stock worth $4,918,000 after purchasing an additional 162,627 shares during the period. Institutional investors own 68.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WB. Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 price objective on shares of Weibo in a report on Thursday, May 28th. Zacks Research downgraded shares of Weibo from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a research report on Friday. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Weibo currently has a consensus rating of “Hold” and an average target price of $11.90.

Weibo Trading Up 1.0%

Shares of WB stock opened at $7.81 on Tuesday. Weibo Corporation has a 12-month low of $7.09 and a 12-month high of $12.96. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average price is $7.69 and its 200-day moving average price is $8.88. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 4.65 and a beta of 0.21.

Weibo (NASDAQ:WB) last posted its earnings results on Thursday, May 28th. The information services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Weibo had a return on equity of 9.90% and a net margin of 21.15%.The firm had revenue of $421.33 million during the quarter, compared to analysts’ expectations of $416.76 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Weibo’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that Weibo Corporation will post 1.26 EPS for the current fiscal year.

Weibo Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.